[Week 3] Who do you prefer to earn money from?


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Week 3: Who do you prefer to earn money from?

It may seem a silly question, and few writers have a real choice when they start out. Still, it’s a question worth meditating on, because some writers are already very skilled at earning money in a particular way but fail miserably (again and again) when trying another way. So I say: make this all easier if you can.

For example: I know some writers who have day-job experience in securing corporate sponsors. They have become accustomed to the language and needs of corporate folks, know how to present opportunities to them, and understand the exchange of value that needs to take place (including how much can be charged). If you watch this Authors Guild session on how to DIY Your Book Launch, you’ll hear one author, Chelsea Fagan, discuss how she secured sponsors for her self-published book. Will that approach work for other authors? Not the majority—I think Fagan has a unique skill set.

Another example: Gigi Rosenberg is an expert in grant writing and has even written a book for others, The Artist’s Guide to Grantwriting. For writers and artists like her, it’s worth the time and energy to consider applying for grants because they deeply understand what it takes to get government or nonprofit funding—and have an edge in their applications as a result. But not everyone is cut out for writing grants.

So who/what are your choices? Here are the most common sources—and notice the overlap with the discussion from last week, the 4 key ways writers earn money. However, there is additional nuance here that’s important.

Earning money from publishers (or “gatekeepers”)

To be successful here, you need to become accustomed to the cycle of submission and rejection, and not allow that cycle to demoralize you. You can’t see any particular rejection as a commentary on the value of you or your work. Best to see it as a game that’s being played. You keep an eye on market trends, opportunities, and ways to get a foot in the door, and work your way toward bigger and better opportunities. As you succeed, you will hold more cards in your hand or gain the leverage you want due to reader demand for your work. Editors and agents approach you.

Earning money directly from readers

Maybe you dislike gatekeepers or rejection, maybe you thrive on immediate feedback and gratification of going to direct to reader, or maybe you have no choice starting out. You write and publish to your own satisfaction, on your own timeline, and build a readership on your own. People may read your work for free, they may donate or pay, or only pay in the future—you decide. But most writers, to build an audience, need to figure out an approach that allows for maximum visibility and discoverability. Amazon Kindle Direct Publishing and Substack are popular platforms for writers who want to start earning money direct from readers.

Earning money from institutions

Writers in this category are often envied: the people who are writers in residence, getting paid to write all day, or writers selected for an all-expenses-paid fellowship. Some are selected to receive a grant by the National Endowment for the Arts or the MacArthur Foundation for their artistic excellence. While being gifted with money looks like a dream, such funding is always finite and doesn’t replace earnings from other sources. Also, don’t assume that the people who receive such awards are chosen only for artistic excellence. There is considerable networking and visibility within specific communities at play in these decisions. Usually such awards lead to long-term follow-on earnings: speaking engagements, publishing opportunities, teaching positions, and so on.

Earning money from social media or tech platforms

In today’s creator economy, just about anyone with a social media account is eligible to start earning money from advertising placed against their content, e.g., at YouTube and TikTok. When I interviewed Matthew Bounds, a self-published cookbook author, he mentioned that his income, aside from book sales, includes social media revenues. Such earnings can be tenuous, however, since platforms frequently change the rules or how payouts get calculated.

Earning money from advertisers/sponsors

Podcasters, bloggers, newsletter writers, influencers, and media operations typically need advertising of some kind to make their effort sustainable. Could you attract ad or sponsor money? There isn’t some magical number of people you have to reach to accept ad money; it all depends on the unique qualities of the readership you reach and how reliably you reach them. You should have enough insight into your audience that you can describe how many people there are and who they are—their demographics and interests. For an example of a basic but effective description for advertisers, see Josh Spector’s website, For the Interested.


Each of these sources tends to be best suited to a particular type of writing. Institutions generally support artistic work with less commercial value, while tech platforms reward writers who can attract, entertain, and retain large audiences. You’ll need to consider the intersection of what you write, who that writing appeals to, and your business skill set when you consider how to earn a living from your writing.

Regardless: most writers earn from a variety of sources. Some of the most interesting efforts today attract a mix of advertising, reader subscriptions, and even donations; see my interview with Isaac Saul of Tangle for an example.

Exercise

It’s challenging to find information about how writers, or any online creators, earn money (particularly the exact amounts), but you should try looking anyway. I’ve disclosed the composition of my earnings at my website, and some creators post monthly income updates that show where their money comes from; try searching for keywords that interest you (genre, category, interest area) and see what you find. On Patreon, artists and creators can allow visitors to see how much they collect in pledges per month, which is insightful, especially when compared to the number of people pledging. A handful of authors publish earnings reports as a means of author education.

During a moment in 2020, many authors shared information about their book advances as part of a grassroots campaign called #PublishingPaidMe, created by writer L. L. McKinney. As of this writing, you can still find and review the spreadsheet.

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